I think that there was a massive call to make money from no human labor effort (a practice I am 100% agreeing with), but using the fast changing world of technology to do it. What most tech people forget is that if you think that you can invest in a technology and not have to immediately look for the next thing when you release your product or service, then you are in the wrong business. Such is the case with crypto miners. They knew the math and they knew the risks, and many extended themselves way too far, to the point that they could not survive a bear market.
It is the old story of those that "haven't been around the block" have to learn the hard way that markets go up and markets go down. The real players are those that can make it through the down markets.
Thanks @beunconstrained and I agree with you about the real players being able to make it through the down markets.
I didn't buy any Steem at any of the all-time highs and I'm scattering my purchases over the course of at least a year to Dollar Cost Average at an amount that I am comfortable with.
Hopefully that is enough to get a really good position in Steem and do well throughout the bear market and afterwards.
I know it's possible that Steem will never go back up but I generally love using Steem-based apps so I have a different outlook than you because of that.
P.S. I appreciate the videos you are forwarding and will probably watch it during the day tomorrow.